FINANCE

Tiffany’s holiday sales rise 4%

BY Dan Berthiaume

New York – Tiffany & Co. saw its worldwide net sales in the two months ended Dec. 31st rise 4% to $1.03 billion. Total sales in the Americas region rose 6% to $550 million.

Same-store sales rose 7% due to broad-based sales growth across most of the region. Tiffany[s is now offering guidance of earnings per diluted share expected to be in a range of $1.27-$1.37 for the fiscal 2013 ending January 31, 2014.

“Tiffany enjoyed a good holiday season with overall sales results in line with our expectation, and we were pleased to see growth across our fine and statement, engagement and fashion jewelry categories,” said Michael J. Kowalski, chairman and CEO of Tiffany.

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FINANCE

Zale holiday earnings fall 2%

BY Dan Berthiaume

Irving, Texas — Revenues for the two-month 2013 holiday period at Zale Corporation dropped 2% to $556 million from $567 million in the same period the prior year. Zale said the decrease in revenues is primarily due to the net decrease of 91 stores compared to last year and a decline in the Canadian exchange rate, partially offset by 2% overall same-store sales growth including e-commerce sales.

“During the holiday period, we maintained our focus on increasing exclusive product penetration, driving gross margin improvement and building our core national brands," said Zale CEO Theo Killion. "We executed a solid holiday season despite a challenging retail environment. Our holiday performance gives us confidence we can achieve our financial expectations for the fiscal year."

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FINANCE

Trans World Entertainment holiday performance slips

BY Dan Berthiaume

Albany, N.Y. — Total sales for the nine-week holiday 2013 period at Trans World Entertainment Corporation were $115 million compared to $128 million for the same period last year, a decrease of 10.2%. The company operated an average of 5% fewer stores during the nine-week period as compared to last year.

Same-store sales for the nine-week period ended Jan. 4, 2014 decreased 6%.

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